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In this work, we propose an open-source, first-of-its-kind, arithmetic hardware library with a focus on accelerating the arithmetic operations involved in Ring Learning with Error (RLWE)-based somewhat homomorphic encryption (SHE). We design and implement a hardware accelerator consisting of submodules like Residue Number System (RNS), Chinese Remainder Theorem (CRT), NTT-based polynomial multiplication, modulo inverse, modulo reduction, and all the other polynomial and scalar operations involved in SHE. For all of these operations, wherever possible, we include a hardware-cost efficient serial and a fast parallel implementation in the library. A modular and parameterized design approach helps in easy customization and also provides flexibility to extend these operations for use in most homomorphic encryption applications that fit well into emerging FPGA-equipped cloud architectures. Using the submodules from the library, we prototype a hardware accelerator on FPGA. The evaluation of this hardware accelerator shows a speed up of approximately 4200x and 2950x to evaluate a homomorphic multiplication and addition respectively when compared to an existing software implementation.